Technical Analysis and Research & Market Outlook
Nifty-EOD Chart(28-Oct-2011):-
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1- Wave-4 correction.
2- 'ABC' Correction pattern.
3- 'ABC' Correction completion after break out of 54 Sessions range bound market between 4720-5229.
4- Impulsive Wave-5 commencement confirmation.
Conclusions
Corrective Wave-4 completed and impulsive Wave-5 is on therefore expected that it will cross Wave-3 top(6338.50) and new highs will be seenaccording to Wave-5 targets.